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Intech, the quant fund management subsidiary of Janus Capital Group, has won two sub-advisory mandates worth an initial $200m (â¬154m) from the new multi-manager division of Barclays Bank.

Intech will run a US large cap core equity strategy benchmarked against the S&P 500 and a US large cap growth equity strategy benchmarked against the S&P 500/Barra Growth Index.

Barclays recently launched its range of multi-manager portfolios to UK retail investors giving them access to professional investment managers normally only available to institutional investors. The funds have attracted nearly £3bn (€4.4bn) in assets.

Intech uses a strict mathematical investment process to try to outperform its benchmark indices. The company does no fundamental research and its strategy involves combining stocks in efficient portfolios by looking at correlations of relative volatility.